Affordable Housing In Schoolcraft
1 Low Income Apartment Communities In Schoolcraft
Guide To Affordable Housing in Schoolcraft, Michigan
There are 1 low income housing apartment communities offering 32 affordable apartments for rent in Schoolcraft, Michigan.
Income Based Apartments in Schoolcraft, Michigan
Schoolcraft features 32 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Schoolcraft, Michigan
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Schoolcraft.
Housing Choice Vouchers in Schoolcraft, Michigan
On average, Section 8 Housing Choice vouchers pay Schoolcraft landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Schoolcraft.
The maximum amount a voucher would pay on behalf of a low-income tenant in Schoolcraft, Michigan for a two-bedroom apartment is between $681 and $833.
2022 Schoolcraft, Michigan Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
|Studio||One BR||Two BR||Three BR||Four BR|
|Schoolcraft, Michigan Fair Market Rent||$503||$612||$757||$1,075||$1,296|
|Schoolcraft, Michigan Payment Standard Range||$453 to $553||$551 to $673||$681 to $833||$968 to $1,183||$1,166 to $1,426|
Sourced from federal housing data and AffordableHousingOnline.com research.
Schoolcraft, MI Affordable Housing Snapshot
|Total Affordable Apartment Properties||1|
|Total Low Income Apartments||32|
|Total Housing Units with Rental Assistance||32|
|Percentage of Housing Units Occupied By Renters||%|
|Average Renter Household Size||0.00|
|Average Household Size||0.00|
|Median Household Income||$0 ±$0|
|Median Rent||$0 ±$0|
Population and Household Demographics
Schoolcraft is a city in Houghton County, Michigan with a population of 0. There are 0 households in the city with an average household size of 0.00 persons. % of households in Schoolcraft are renters.
Income and Rent Overburden in Schoolcraft
The median gross income for households in Schoolcraft is $0 a year, or $0 a month. The median rent for the city is $0 a month.
Area Median Income In Schoolcraft
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Schoolcraft, the AMI is calculated from all households within Houghton County.
In Schoolcraft, HUD calculates the Area Median Income for a family of four as $64,600
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Schoolcraft
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Schoolcraft
|1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|30% AMI Income Limits
Renters earning up to 30% of the Schoolcraft AMI may qualify for rental assistance programs that target Extremely Low Income households.
|50% AMI Income Limits
Renters earning up to 50% of the Schoolcraft AMI may qualify for rental assistance programs that target Very Low Income households.
|80% AMI Income Limits
Renters earning up to 80% of the Schoolcraft AMI may qualify for rental assistance programs that target Low Income households.